You can start monetizing right after you get partnered. There is no delay or rule for you to start monetizing.
If you want to know if you're partnered check out this video:
If you want to monetize all your videos check out this video:
Apparently it takes time.. you'll probably get yours in...
Like the one under our name? Yeah you apply for a partnership then you become a partner but you need to be a "member" to get access to the self promotion forums.
Ask Away :D